Choice of Offers - DB, ML, LB
For the summer analyst position, what should I choose and why? They are all for trading in NYC.
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obviously ML...
Lehman if your thinking fixed income or derivatives, and Merrill if you want equities.
isn't ML trading not all that hot? more of an investment bank?
Without knowing much about the differences between the summer programs at each place (you should check into this obviously), I would advise that you stay away from ML for S&T at this point.
As you've probably read, because ML has taken mega writedowns, it is changing its business model away from S&T and further towards I-Banking. During the past few years, it had tried to become a much larger player in S&T, but obviously that backfired. Now, as John Thain himself said a couple of weeks ago, the firm is looking to capture a bigger slice of the investment banking fee pie and exit some of the structured credit businesses that had provided a big chunk of the firm's fixed income revenue before the recent blowup.
Granted, every firm is backing away from structured credit to varying degrees, but it definitely seems that ML is really shifting its focus. I guess that's what happens when you report a full year loss of almost $8 billion.
Jesus, you got 3 offers and are asking us for advise? We should be asking YOU advice!
close family friend worked at lb for 10 yrs in fixed income, said the culture was one that valued mediocrity and was very political. that said, go where you like the people most.
i'll be there...
the thing is i don't know the people at all 3 banks very well...
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